Caregen (CEO Yongji Jeong), a biopharmaceutical company specializing in peptides, announced on the 13th that it has signed a five-year contract worth a total of 33.29 million dollars (approximately 45 billion won) to supply the muscle-building functional peptide 'MyoKi' to Mexican biohealth distributor IFA Celtics. This contract is the second large-scale transaction following the 42 million dollars (approximately 52 billion won) contract for the anti-obesity peptide 'Korglutide' signed in July.
Founded in 1965, IFA Celtics is Mexico's leading obesity treatment company. It supplies approximately 90 products, including prescription and over-the-counter medications and health supplements, to pharmacies, wholesalers, and public procurement markets nationwide. It holds a particularly high market share in the metabolic health sector.
"Myoki" is a functional peptide that inhibits the action of myostatin, a muscle growth-inhibiting protein, thereby promoting muscle growth and slowing muscle degeneration. A clinical trial conducted in 2024 showed that after 12 weeks of use, arm and leg muscle mass increased by an average of 2.52%, and lean body mass also increased by 2.56%. Grip strength and walking speed also improved by 5.2-6.2% and 12.4%, respectively. Biochemical efficacy was also confirmed by changes in biomarkers related to muscle damage and growth.
Mexico has high rates of obesity and diabetes, driving demand for products that address sarcopenia and improve muscle function. Furthermore, the sports nutrition market, which supports performance enhancement and recovery, is growing rapidly, driven by national interest in sports like soccer, boxing, and baseball, as well as a growing fitness population.
According to market research, the Mexican sports nutrition market is projected to grow from approximately $1.8 billion in 2025 to approximately $3.9 billion in 2033, with the GLP-1 receptor agonist market also projected to grow at a compound annual growth rate of 20.8%. As concerns about muscle loss associated with GLP-1 therapy arise, demand for products to address this issue is increasing.
Through this agreement, Caregen plans to deploy "Myoki" in three areas: the treatment and prevention of sarcopenia, the supplementation of muscle mass loss in patients taking weight-loss medications, and the sports nutrition market. Synergies with the existing integrated portfolio of Coglutide are also anticipated.
Caregen CEO Jeong Yong-ji stated, "IFA Celtics is a leading partner in the Mexican obesity treatment market. Through Myoki, we will prevent the risk of muscle loss associated with weight loss and expand into the sports performance market." He added, "Starting with Mexico, we will also pursue expansion into Central, South, and North American markets."
Initial sales from this agreement are expected to begin as early as the fourth quarter of this year, and Caregen plans to develop Myoki beyond its role as a health functional food and into a treatment for sarcopenia and muscle atrophy. Based on clinical data and global regulatory strategies, Caregen plans to build a differentiated peptide product portfolio.
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